Macquarie Asset Management expands its presence into the European purpose-built student accommodation (PBSA) sector, signing an agreement to acquire and combine two specialist platforms — MILESTONE and BaseStack Living.
The transaction will bring together two complementary businesses to create a vertically integrated specialist PBSA platform managing more than 12,000 beds across eight countries including Germany, Austria, Netherlands, Poland, Italy, Spain, Portugal and Denmark. The new combined platform will have an immediate pan-European footprint, with local on-the-ground development and operational expertise providing an attractive foundation for growth.
The owner of BaseStack Living, Justin Hamer, will remain as a shareholder alongside Macquarie Asset Management and be appointed as CEO for the new group. Hamer is an experienced leader and sector specialist after co-founding Basecamp Student, which was ultimately sold as part of an approximately €1 billion ($1.2
